Jio Financial Services listed on the exchanges today at Rs 262 per share against the discovered price of Rs 261.85 per share. The demerged financial arm of Reliance Industries however fell 4.09 per cent to ₹251.15 down by 10.70 points.
Jio Financial Services will be trading under Trade-To-Trade segment for the initial 10 days. Under this segment the stocks will be bought under the delivery method and will not be eligible for trading on an intraday basis. Jio Financial Services will have a five per cent circuit for close to 10 trading sessions.
The Bombay Stock Exchange and National Stock Exchange on Friday announced that Jio Financial Services will begin trading on Monday. "Trading Members of the Exchange are hereby informed that effective from Monday, August 21, 2023, the equity shares of Jio Financial Services Ltd (formerly known as Reliance Strategic Investments Limited) shall be listed and admitted to dealings on the Exchange in the list of T Group of Securities," BSE said in a notice.
Jio To remain on FTSE
Post this the FTSE Russell said that it will continue to remain in the indices. Additionally it will be added to the MSCI Global Standard Index on August 23.
The board of Jio Financial Services had allotted 635.32 crore shares with a face value of ₹10 to the eligible shareholders of Reliance Industries. The shareholders received one share each for every one share they held. The shares of JFSL were credited to the Demat account of shareholders last week.